Africa-Press – Angola. In the first half of the current year, Banco Angolano de Investimentos (BAI) recorded a net profit of 40 billion kwanzas, corresponding to a growth of 41 percent, compared to 29 billion kwanzas in the same year.
According to the report and accounts released by the bank, the result is explained by the 15 percent growth in net interest income.
Net interest income stood at 88 billion kwanzas, influenced by the 92 percent reduction in impairment costs, due to income from investments in central banks and other credit institutions totaling 19 billion kwanzas, which resulted in of the significant investment made in liquidity applications with the Central Bank.
Also according to the bank’s document, an increase in the “cost-to-income” (cost to revenue) was also recorded from 55.5 percent to 63.3 percent, compared to June 2021.
As can be seen, BAI also had an increase in return on equity-ROAE from 18.4 percent to 22.6 and in return on average assets – ROAA from 1.9 to 2.6 percent. The report says that the bank recorded an increase in the Regulatory Equity Ratio from 22.83 to 27.88 percent, above the minimum threshold.
Business plan
The chairman of the Executive Committee of BAI, Luís Lélis, said that the bank continues to be one of the important players in the financial market in Angola. He made it known that the net results are in line with the bank’s business plan, adding that BAI has 5,500 customers per week.
At the moment, added the manager, the bank has 1,891 customers and has more than 260 bank agents across the country.
BAI announces sale of shares via the stock exchange
Banco Angolano de Investimento (BAI) announced yesterday the sale of 972,500 own shares, with ISIN AOBAIAAAAA05, on the stock exchange market of the Angolan Stock Exchange (BODIVA).
The operation will be available from October 24 to December 30, 2022 and is intended for all interested investors, subject to the terms and limits established by law, which may be carried out through the Intermediation Agents registered with BODIVA, in the Branch Network BAl and BAI Directo, among others.
BAI was the first company to have its shares publicly traded on BODIVA, and recently Banco Geral Caixa Angola (BGCA) joined the stock market, with the Initial Public Offering, of 25 percent of the shares, which belonged to state-owned company Sonangol, which yielded more than 20 billion kwanzas to the state SAW.
Credit reduces weight
According to the report & accounts, gross credit fell by 25 percent, reaching 502 billion kwanzas, a reduction of 170 billion kwanzas compared to December 2021.
The corporate loan portfolio ended June with 342 billion kwanzas. The bank’s credit portfolio aimed at individuals reached 160 billion kwanzas.
This variation was “essentially” explained by the reduction of the loan portfolio in national currency by 25 percent (147 billion kwanzas), mainly due to the write-off of credit related to projects in the promotion sector.
Deposits reached 2.4 billion kwanzas, down three percent, of which 1.6 billion kwanzas belong to companies and 837 billion were deposited by individuals. The attraction of a further 99,376 customers in the 1st half of 2022 contributed to the increase in the number of operations from 839,682 to 1,297,209 and enabled the capture of deposits in the order of 4.02 billion kwanzas. This increase in the number of customers and operations carried out corresponds to more than 91 percent of what was captured in the same period last year.
The results presented show that BAl remains the market leader, with the largest number of Automatic Payment Terminals (ATM), with a total of 526 active machines, 16 more than at the end of last year.
The figures, says the document, represent a share of 17 percent, exceeding the Network Operationality Rate (TOR) verified by the network managing entity (94.6 percent) in June 2022. VI
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